Home Mortgage Refinance Loan Rates – 30 and 15 Year Fixed Interest Rates Sink to Lowest Levels in 2010
Posted on | August 31, 2010 | No Comments
Home mortgage refinance loan rates are at historically low levels as the 30 year and 15 year fixed interest rates have hit the lowest levels in August 2010. We are currently seeing 30 year fixed mortgage rates around 4.25% and 15 year fixed mortgage rates around 3.8%. When looking at the historical chart of mortgage interest rates is quite clear that these are the lowest levels we have seen in the history of the United States housing market.
Before homeowners make the assumption that all Americans can lock into these low rates it is very important to understand that it takes a very good credit score in the low debt to income ratio to have any opportunities to lock into these low rates. Without these requirements it may be the case that higher interest rates are quoted for the 30 and 15 year mortgage.
With this in mind it is very important to make certain that a credit score and a credit report is free of errors. By having errors on a credit report it could reduce the credit score by as much as 100 points which in turn would greatly hurt the opportunity to lock in low refinance mortgage rates in August of 2010. With this being the case it is always wise to make sure that a credit report is clear of mistakes.
Author: Alan Lake
Tags: 15 year fixed rates > 30 year fixed rates > fixed interest rates > fixed loan rates > Home Mortgage Loan Rates > refinance loan rates > Refinance Rates
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